Alternaty Capability Statementalternaty.com/wp-content/uploads/Alternaty Capability...

Alternaty Capability Statement Hotel, Resort and Commercial Property

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About Alternaty

Alternaty is a boutique real estate consulting firm providing a suite of consulting services throughout the real estate development lifecycle. Headquartered in Ho Chi Minh City, Vietnam, with track record in Cambodia, Lao, Thailand, Myanmar, Indonesia and the Maldives. Our team has extensive track record in commercial property, hotel and resort advisory throughout the Indochina Region.

Alternative Real Estate

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Portfolio Alternative Real Estate

Some Clients, Partners, Friends and Network. A thanks to everyone allowing us to growth, thanks to everyone who have trusted us.

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Some of our Projects in 2015 and 2016, completed or under construction. Thanks to everyone who have trusted us.

Portfolio Alternative Real Estate

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How Can We Help You on Your Real Estate Development Journey

Start Your Dream

Create and Validate

Build Your Army Raise Exit Plan Even More

Alternative Real Estate

Market Study

Scenario analysis

Master Plan Review

Feasibility Study

Cash Flow Analysis

Development Recommendation

Design Brief

Operator Selection

Developer Representation

Tendering

Asset Valuation

Investment Advisory

Sale Planning

Rental Pool Advisory

Turn Key

Management

“Your journey begins here”

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Services Our support for the step “Start Your Dream”

Market Study An in depth analysis of the hotel and resort market in a specific destination including economic environment, market trends, development performance and market outlook (possible risks and opportunities). The market study will help with investment decisions and formulating the next steps in the planning process. Scenario analysis A Cash Flow simulation to identify risks and assess possible outcomes of various scenarios, taking into account various factors (site characteristics, market needs, developer’s internal budget and plan, and more). Master plan review Defines the master plan direction in terms of concept and design. The review will ensure that the preliminary master plan design concepts are carefully considered while all project components are seamlessly integrated and the phasing does not interfere with the project operation and sale.

Start Your Dream

Create and Validate


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Our support for the step “Create and Validate” Services

Feasibility Study An in depth analysis of the hotel and resort market in a specific destination including economic environment, market trends, development performance and market outlook (possible risks and opportunities). The market study will help with investment decisions and formulating the next steps in the planning process. Cash Flow Analysis A Cash Flow simulation to identify risks and assess possible outcomes of various scenarios, taking into account various factors (site characteristics, market needs, developer’s internal budget and plan, and more). Development Recommendation Defines the master plan direction in terms of concept and design. The review will ensure that the preliminary master plan design concepts are carefully considered while all project components are seamlessly integrated and the phasing does not interfere with the project operation and sale. Design Brief Assisting the developer to finalise the development concept which is both viable and deliverable and articulate it in the form of a structured Design Brief. The Design Brief provides clear and detailed guidance for all parties involved in later stages expediting the development process and aligns all parties to move forward in the same direction.

Start Your Dream

Create and Validate


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Our support for the step “Build Your Army” Services

Start Your Dream

Create and Validate


Operator Selection The initial stage involves a preliminary review of the subject investment and development targets as well as the preparation of a formal Information Memorandum and shortlist of proposed operators. Subsequent stages involve advising on the main commercial terms in the Memorandum of Understanding (MOU) which is then used as the basis for hotel contracts in later stages such as the Technical Services Agreement (TSA) and Hotel Management Agreement (HMA). Developer Representation Coordination of all relevant consultants (designers, architects, project managers and operators) to ensure that the planning of the project moves forward, on behalf of the developer during the initial planning stage before the Project Manager takes over the coordination. Services include rendering assistance with the planning timeline, arranging stakeholder meetings, attending and monitoring workshops and supporting the developer in translation when required. Tendering Preparation and support in the consultant tendering process (designer, architect, leasing agent and property manager). The process involves the preparation of a project information report, introducing or providing a list of potential candidates and collection and review of proposals.

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Our support for the step “Raise” Services

Asset Valuation A letter of opinion providing the developer an independent assessment of value that can be used as a foundation from which to consider an acquisition, disposal or other financial decision by the developer, investor and other relevant parties. Investment Advisory A Cash Flow simulation to identify risks and assess possible outcomes of various scenarios, taking into account various factors (site characteristics, market needs, developer’s internal budget and plan, and more).

Start Your Dream

Create and Validate


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Our support for the step “Exit Plan” Services

Sale Planning Careful consideration and planning of all aspects of the sales strategy before launch, to ensure that sales are systematically executed in a way that maximises sales realization while at the same time upholding and protecting the professional reputation of the developer and project. The full suite of sales and marketing collateral are prepared together with a tailored marketing and PR strategy. Rental Pool Advisory In depth analysis on the rental pool structure through analysing practical structures successfully applied by competitive products and understanding the Cash Flow dynamics and their impact on management as well as integration with the sale and purchase contract.

Start Your Dream

Create and Validate


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“Even More”” Services

Turn Key- Consultancy/Design/Management Releases from the developer the significant pressure associated with property development from the planning stages through to construction and operation. The Turn Key package includes but is not limit to market study, development concept planning, feasibility study, tendering, appointment of key consultants, sales and marketing set up, pre-opening and management. White Label Management Ongoing management services from planning stages through to operation. Services include: asset operational review to detect problems and provide practical solutions, setting up of effective management structures and monitoring the operator’s effectiveness in the implementation of the operational plan and budget as well as planning for future improvements.

Start Your Dream

Create and Validate


CVs of Alternaty Management Team

Executive Director

+84 908 556 492

+84 836 028 591

gasparotti.mauro

Responsibilities

Mr. Gasparotti holds the position of Executive Director at Alternaty (Vietnam). In addition to his business development responsibilities, Mauro specialises in hotel investment and consultancy, feasibilities studies, cash flow analysis, market analysis, projects consultancy and operator selection. He also organizes the use and implementation of valuation models for hospitality assets and developments sites.

Professional Experience

Prior to co-founding Alternaty, Mr. Gasparotti set up and headed the Hotel Services department at CBRE Vietnam and before this he was a Senior Manager in the Valuation and Advisory department. Prior to joining CBRE, Mr Gasparotti worked in Ernst&Young.

Following his graduation, Mr Gasparotti moved to Sydney in 2005 where he was employed at Colliers International as an assistant valuer within the Hotels department. Mr. Gasparotti was responsible for implementing valuation models and supporting the valuation process within the department. In Italy Mr. Gasparotti was employed at Praxi International, a leading Italian real estate consultancy firm, with the responsibility of developing investment and feasibility models for the firm.

mauro.gasparotti @alternaty.com

Education

Master of Business Administration (MBA in International Business Strategy), University of Newcastle, Australia E-Certificate in Hotel Investment and Asset Management, Cornell University Master of Science (Econometrics, Finance, Real Estate Finance), University of Parma, Italy Bachelor of Economics, University of Parma, Italy

Mauro Gasparotti


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Executive Director

+84 933 902 530

+84 836 028 591

rudolf.hever

Responsibilities

Mr. Hever holds the position of Executive Director at Alternaty (Vietnam). In addition to his business development responsibilities, Rudolf specialises in alternative ownership structuring and hotel and resort consulting. He has extensive experience in conducting feasibility studies of development projects across Vietnam for hotel, residential, retail, office and industrial projects to specialty properties such as golf courses, luxury villas and resorts.


Prior to co-founding Alternaty, Mr. Hever was the Associate Director of the Research and Consulting department of CBRE Vietnam since 2007. During his tenure he was responsible for elevating the department to the market leading position within the industry. He is widely recognised for providing first class research and consulting services and is frequently quoted in the press and TV.

Mr Hever is a regular member of the South East Asia Property Awards having served as a Judge in previous years and as Chairman of the Judges Panel at the Vietnam Property Award 2015.

rudolf.hever @alternaty.com

Education Master of Science (Real Estate), University of Hong Kong Master of Real Estate, University of NSW, Sydney, Australia Bachelor of Commerce (Finance and Accounting), University of Sydney, Australia

Credentials AAPI – Associate of the Australian Property Institute AFin – Associate of the Financial Services Institute of Australia Registered Property Valuer, Office of Fair Trading, Australia Undergoing accreditation by the Royal Institute of Chartered Surveyors (RICS)

Rudolf Hever


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Business Development Manager

+84 934 345 630

+84 836 028 591

nhung.pham222

Responsibilities

Ms. Nhung holds the position of Business Development Manager at Alternaty (Vietnam). Her main responsibilities include building on Alternaty’s market position by locating, developing, defining, negotiating and closing business relationships.

In addition to her BDM role, she is responsible for Marketing, Public Relations and Key Client Accounts.

Prior to becoming Business Development Manager, Ms Nhung was the Executive Assistant to Directors.

Ms. Nhung joined Alternaty from the very beginning and played a critical role in the rapid growth and development of the company having been involved in all key projects and Clients.


Prior to joining Alternaty, Ms. Nhung was part of the Hotel Services Department in CBRE Vietnam, in charge of market research.

nhung.pham @alternaty.com

Education Bachelor of Business Administration, University of Industry, HCMC Certificate of Finance and Banking, University of Economics, HCMC

Nhung Pham


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Senior Analyst

+84 917 199 845

+84 836 028 591

vokim.trang

Responsibilities

Ms. Trang is a Senior Analyst at Alternaty and essentially consulting clients for investment decision making by providing an insight on economic trends, feasibility study and evaluating investment potentials.


Having extensive academic and practical background in management, consulting, finance and investment management, Ms. Trang applies an understanding on market attractiveness, feasibilities study as well as evaluation of alternative investment potentials.

Before working for Alternaty, Trang worked for TNS Vietnam as a Research Analyst, where she performed market studies for various industries such as Real Estate, Telecommunication, Banking as well as Petroleum. Her consulting knowledge was also successfully applied when she performed as a bridge between the teams in Vietnam and London for SDL company.

Trang is a native Vietnamese and had time studying and working in United Kingdom, she has knowledge on business etiquette/protocol in Vietnam and Western as well as cross cultural management. trang.vo

@alternaty.com

Education Bachelor of Commerce degree from RMIT University Vietnam Msc Finance degree (Investment Banking & Securities) from University of Wales, UK MBA degree (Consulting & Entrepreneurship) from Middlesex University, UK

Trang Vo


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Investment Analyst

+84 964 310 328

+84 836 028 591

uyen.nguyen010

Responsibilities

Ms. Uyen is an Investment Analyst at Alternaty. Her main responsibilities include providing research on real estate market conditions and performance, evaluating investment opportunities and consulting clients throughout the investment and development process.


Before joining Alternaty, Uyen worked for KPMG Vietnam as a Senior Auditor, where she performed independent assurance services for several leading multinational and local financial institutions along with projects for major clients in manufacturing and real estate. The experience at KPMG equipped Uyen with knowledge across a broad spectrum of industries and financial analysis skills.

Uyen is undertaking the CFA program and is currently a level III candidate. Throughout her educational and professional career, Uyen has broadened her knowledge of real estate and raised cultural awareness giving her the ability to work with diverse group of individuals.

uyen.nguyen @alternaty.com

Education Bachelor Finance & Banking, University of Economics, HCMC CFA Level III candidate

Uyen Nguyen


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Investment Analyst

+84 903 184 688

+84 836 028 591

Responsibilities

Ms. Trang is an Investment Analyst at Alternaty. Her main responsibilities include providing analytical insight on market trends, evaluating investment opportunities and consulting clients in the investment process.


Trang used to work for SSI Asset Management as an Analyst. She conducted due to diligence on companies and industries by researching, reading financial statements and market data, especially in construction and real estate industries. These experience at SSIAM equipped Trang with competence to professional standards in financial planning and portfolio analysing techniques and knowledge.

Before that, Trang worked for Techcombank as a Retail Banking Officer where she supported and consulted clients about a mortgage for real estate projects in HCMC.

Her valuable time studying and professional working helped her gain thorough knowledge in real estate segment .

trang.luong @alternaty.com

Trang Luong


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trang.luong1211

Education MSc Finance with Risk Management, Bournemouth University, UK Bachelor Finance & Banking, Banking University HCMC Passed CFA level II/2016

Alternaty’s Track Record

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Eurowindow Holding

Cam Ranh, Vietnam 5 star Resort and Residential Service: Operator Selection Brand Selected: Radisson Blu (Carlson Rezidor Hospitality)

HB Group Quang Nam, Vietnam The New Hoi An City Service: Operator Selection Phase 1 - 356 midscale hotel Brand selected: Ozo (Onyx Hospitality) Phase 2 - 210 condo residence & 12 beachfront villas Brand selected: X2 Vibe (BHMA)

Tanzanite International Ho Tram, BR-VT, Vietnam The Melia Ho Tram at The Hamptons – Condotel, Villa and Resort Services: Operator Selection, Feasibility Study

Alternaty Track Record

Cam Ranh Flowers Resort Cam Ranh, Vietnam Mixed Use Resort: Villa (55 units), Bungalow (10 units), Hotel (256 rooms) Service: Operator selection & Full Range of Advisory Services

Operator Selection Consulting

C.L.U.M.B Ha Long, Vietnam Upper Upscale Hotel (331 rooms) Service: Feasibility Study, Study and Development Recommendations

Khou Investment Phnom Penh, Cambodia Upper Midscale Hotel Services: Developer Representation, MOU review and negotiation support with international operator


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Sonkim Land HCMC, Vietnam Oakwood Serviced Apartment in CBD Service: Operator Selection

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Advisory Consulting

Asian Coast Develoment Ho Tram, Vietnam The Grand Ho Tram Strip Expansion Service: Development Recommendation and Feasibility Study


Tran Thai Phu Quoc Island, Vietnam The Shell Phu Quoc Resort Service: Operation Review

Nam Hai Hotel Danang, Vietnam Four Seasons The Nam Hai Service:: Cash Flow Analysis for Investment Purpose

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ASCO International Ltd. Phu Quoc Island, Vietnam Chen Sea Resort (36 villa boutique Resort) Service: Feasibility of Shared-Ownership Implementation

Feasibility Study and Advisory Consulting

Asian Coast Development Ho Tram, Vietnam Gallery Villas Ho Tram Service: Rental Pool Advisory


Private Developer (Confidential) Cam Ranh, Vietnam A Mixed Use Resort Service: HMA Review and Feasibility Study

CTX Holding Sapa, Vietnam A 4 Star Hotel Service: Operator Selection

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Liberty Central Danang Danang, Vietnam A 230 Key Upper Midscale Hotel Service: Market Study, Cash Flow Analysis and Feasibility Study


X2 Viet Tri Viet Tri, Vietnam A Midscale Hotel Service: Market Study, Cash Flow Analysis and Feasibility Study

VietinBank Dalat,Vietnam 4 Star Hotel (120 rooms) Service: Rebranding consultancy

Satra HCMC, Vietnam 5 Star Luxury Hotel Service: Operator Selection Brand Selected: Confidential

VietinBank Nha Trang, Vietnam Midscale Hotel (300 rooms) Service: Operator Selection Brands proposed: Ibis, Ozo, ValueInn, ParkInn, Penta Hotels Brand Selected: Ibis


Gemadept Vientiane, Laos 5 Star Hotel (200 rooms) Service: Operator Selection Brands proposed: Lemeridien, Marriott, Hilton, Pullman Brand Selected: Confidential

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Nam Cuong Group Phu Quoc Island, Vietnam Mixed Use Project Service: Feasibility Study and Development Recommendations, Information Memorandum


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City Land Phu Quoc Island, Vietnam Large Scale Mixed Use Project includes Hotel, Resort and Residential components Services: Market Study, Feasibility Study, Development Recommendation, Master Plan Review

Long Dien Group Phu Quoc Island, Vietnam Mixed Use Project Service: Market Study, Information Memorandum Preparation, Feasibility Study and Development Recommendation

Gami Group Phu Quoc Island, Vietnam Mixed Use Project Service: Market Study, Feasibility Study and Development Recommendations, Turn Key Investment



MBLand Khanh Hoa, Vietnam Resort and Residential Project in Cam Ranh, Service: Market Study, Feasibility Study & Development Recommendations

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Thien Duc

Khanh Hoa, Vietnam Mixed Use Project in Cam Ranh Service: Market Study, Feasibility Study, Development Recommendation

Thanh Cong E&C HCMC, Vietnam Hotel & Serviced Apartment Project Service: Feasibility Study and Development Recommendation


Viettel HCMC, Vietnam A mixed Use Project includes 400 room hotel Service: Operator Selection and Lawyer Appointment, Benchmark Analysis and Cash Flow Assessment

Buriram Serviced Apartment Project in Buriram, Thailand Service: Feasibility Study and Development Recommendations

Infinity An operating residential and resort Project in Koh Samui, Thailand Service: Information Memorandum,


Kennedix Service: HCMC serviced apartment market study

InVision Hospitality F&B Project in HCMC, Vietnam Service: F&B Market Survey

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Acqua Villa Nha Trang Managed by Alternaty 5 star luxury villas Service: Management Status: in operation

Blu One Nha Trang Mid-scale serviced apartment Service: Management Status: in operation

New Hoi An City Mixed Use project including hotel, villas and retail components Service: Facility Management Status: pre-operation


Pepper House Office and Apartment Building Service: Management Status: in operation

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Management Consulting

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Que Toi Village Resort Song Cau, Phu Yen Service: Alternaty offered a Turn-key solution to the land owner and other partners to develop a mixed-use project of bungalows and villas in Song Cau, Phu Yen, Vietnam. Planning Stage: Market Research, Cash Flow and Scenario Analysis, Full Feasibility Study & Development Recommendations, Design & Design Coordination, Contractor Tendering & Construction Supervision, Management, Sales & Marketing, Exist strategy Status: under construction

Alternaty Track Record Turn Key Services

InterContinental Saigon Le Duan Boulevard HCMC, Vietnam 5 star 305 rooms

Sheraton Hotel Tran Phu street Nha Trang, Vietnam 5 star 284 rooms

Novotel Hotel Tran Phu Street Nha Trang, Vietnam 4 star 154 rooms

Windsor Plaza Hotel An Duong Vuong Street HCMC, Vietnam 5 star 405 rooms

Duxton Hotel Nguyen Hue Boulevard HCMC, Vietnam 4 star 198 rooms

Daewoo Hotel Ba Dinh District Ha Noi, Vietnam 5 star 411 rooms

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Selected Track Record of Directors Hotel Valuation

The directors worked on the following projects during their previous roles

Nikko Hotel Hanoi, Vietnam Five star 257 rooms

Harbour View Hai Phong, Vietnam Three star 60 rooms

Cambodiana Hotel Phnom Penh, Cambodia Four star 238 rooms

Raffles hotel Phnom Penh, Cambodia Five star 170 rooms

Golden SwissBel Hotel Hoi An, Vietnam Four star 212 rooms

La Sapinette Dalat, Vietnam Four star 83 rooms

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Selected Track Record of Directors Hotel Valuation


Chen Sea Phu Quoc Island, Vietnam Four star 36 villas

M-Gallery La Residence Hue, Vietnam 122 rooms

Raffles Grand Hotel Siem Reap, Cambodia Five star 125 rooms

Villa Maly Luang Prabang Luang Prabang, Lao Four star boutique 33 rooms

Victoria D’Angkor Siem Reap , Cambodia Four star 130 rooms

Belhamy Resort Hoi An, Vietnam Four star 131 rooms

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Selected Track Record of Directors Resort Valuation


Case Studies of Alternaty Projects and Clients

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Date 2011 - 2013

Client Vietinbank – One of the four largest commercial banks in Vietnam

Location Tay Ho District, Hanoi, Vietnam

Project Components

Office: 68 floors Hotel: 350 rooms, 48 floors Retail podium: 7 floors GFA 300,000 m2

Alternaty Service

1st Contract: Feasibility Study Report 2nd Contract: Operator Selection and negotiation

Hotel Operators Tendering

Starwood, Langham, Carlson, Four Season, Conrdad, Hyatt

Hotel Brands Tendering

Ciputra Luxury Mixed Use complex Retail, Office, Hotel and Serviced Apartment


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Date September 2013 - 2015

Client Viettel - One of the world’s fastest growing telecom operators in Vietnam

Location Ward 12, District 10, HCMC, Vietnam

Project Component

5 Star Hotel (24 floors, 424 rooms) Office (30 floors), Retail Podium (4 floors) Land area 14,200 m2, GFA 161,542 m2

Alternaty Services

1st contract Hotel/Retail operator selection 2nd contract HCMC and HN hotel operational

benchmarking analysis 3rd contract Office and retail leasing agent

selection and property manager Extra Service Lawyer selection for HMA

negotiation

Viettel Operational HQ And Commercial Center


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Date 2014 - Present

Client Satra

Location Ho Chi Minh City, Vietnam

Project Component

Luxury Hotel Grade A Office Retail Land Area 9,208.6 m2

Alternaty Services

1st contract:

Market Study Feasibility Study Positioning Recommendation Development Recommendation

2nd contract:

Operator Selection & Negotiation Support

Tax Plaza – Ho Chi Minh City Center


Phase 1 Phase 2 - Qudos

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Date 2015 – Present

Client HB Group

Location Hoi An, Vietnam

Project Component

356 key midscale hotel 210 condo residence & 12 beach front villas 19,373 sqm retail 333 ha land

Alternaty Services

1st contract:

Market Study Feasibility Study Positioning Recommendation Development Recommendation

2nd contract:

Operator Selection for midscale hotel component (Ozo – Onyx Hospitality) Operator Selection for midscale hotel component for condo residence and beach front villa component (X2 Vibe)

3rd contract: Facility Management

4th contract: Operator selection for the upscale hotel – Qudos project

The New Hoi An City


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Date 2015 - Present

Client Tanzanite International

Location Ho Tram, Vietnam

Project Component

16.8 hectare land plot Phase 1: 12 ha, 288 resort suites in Tower 1 and 25 luxury beachfront villas

Alternaty Services

1st contract: Feasibility Study Positioning Recommendation Development Recommendation

2nd contract: Operating costs analysis and rental pool analysis

Melia Ho Tram at The Hamptons


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Date 2015

Client Khou Investment Co., Ltd.

Location Phnom Penh, Cambodia

Project Component

Upper Midscale Hotel: 189 rooms

Alternaty Services

Developer Representation MOU and HMA Commercial Terms Review

Khou Investment Co.

Courtyard by Marriott Phnom Penh Upper Midscale Hotel


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Date July 2013 - 2014

Client Bai Dai Resort Co., Ltd. – A large Russian developer based in Moscow

Location Cam Ranh, Khanh Hoa, Vietnam

Project Component

Villa (55 units) Bungalow (10 units) Hotel (256 rooms) Apartment Land Area 152,700 m2 GFA 53,362 m2

Alternaty Services

1st contract: Operator selection 2nd contract: Full range of Advisory Service:

Market Research, Case Studies Analysis, Feasibility Study, Scenario Analysis, Development & Investment Structure, Investment & Financing Service

Operators Introduced

Minor, Starwood, Dusit, Marriott, Onyx

Brands Introduced

Cam Ranh Flowers Residences & Hotel


Date October 2014 - Present

Client Private Owner

Location Nha Trang, Vietnam

Facilities Ultra-modern design and over 500 sm of private living space featuring four bedrooms, five bathrooms, a large living room with dining area, fully equipped kitchen and an expansive exterior with private pool Personal Services: Private Chef, Driver, Transportation Arrangement, Tours, etc

Alternaty Services

Villa Management Villa Setting Up Pricing Strategies SOP Training and Implementation Sales and Marketing implementation Daily operation management

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Acqua Villa Nha Trang, Vietnam

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Alternaty Report Samples Annex

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Alternaty Report Samples Annex

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Alternaty Newsletters and White Papers Annex

Alternaty Achievements Annex

• Alternaty was highly commended in the Best Property Consultancy (Vietnam) category at the South East Asia Property Awards held at the Shangri-La Hotel in Singapore in October 2013.

• The awards were given in 32 categories, recognising the region’s best developers, developments, real estate service providers and architecture firms from Singapore, Malaysia, Indonesia, Thailand, Philippines and Vietnam.

• Over 1,000 nominations were received for the awards that were shortlisted by BDO Advisory, which acts as an independent auditor for the awards.

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• Vietnam Property Awards 2015, part of the Asia Property Awards, was the first event held specifically for Vietnam's real estate industry. The inaugural award ceremony and gala dinner to honor the top developer and individuals with outstanding contributions for the industry was held on August 14, 2015 at the InterContinental Asiana Saigon.

• Alternaty was honoured to be appointed as Chairman of the Judges Panel of Vietnam Property Awards 2015.

• The Vietnam Property Awards presented a total of 21 accolades with 4 main categories including: Developer, Design, Developments and Best of the Year.

Alternaty in Media Annex

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Alternaty at Conferences & Events Annex

Thank You

Disclaimer: This document has been prepared in good faith and for general informational purposes only. Nothing herein contains investment, legal, tax and/or other advice and investors should seek independent professional advice before making any investment decision. While reasonable care has been taken to ensure that the sources of information herein are reliable, no guarantee is provided to the accuracy or completeness of such information (and the same may not be independently verified or audited) and no liability is accepted for any inaccuracy or omission.

+84 836 028 591 [email protected] Unit 38, 26 Ly Tu Trong st. D1,

Ho Chi Minh City Vietnam

www.alternaty.com

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